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  • BACEN: Deadline for submitting the Annual Declaration of Brazilian Capital Abroad is April 5th

The deadline for submitting the Annual Declaration of Brazilian Capital Abroad (“CBE”) began on February 15, 2022, referring to the base date of December 31, 2021.

Individuals or legal entities resident, domiciled or headquartered in the country, holding values of any nature, assets in currency, and also assets and/or rights against non-residents, whose combined values total an amount equal to or greater than the equivalent of US$ 1,000,000.00 (one million US dollars) on the base date of December 31, 2021 are required to present this declaration (“Declaration Annually”).

The deadline for submitting the Annual Declaration is 6 pm on April 5, 2022.

People whose sums total an amount equal to or greater than the equivalent of US$100,000,000.00 (one hundred million US dollars) on the base dates of March 31, 2022, June 30, 2022 and September 30, 2022 must additionally present the Quarterly Declaration of Brazilian Capital Abroad (“Declaration Quarterly”).

The deadlines for Quarterly Declarations are:

(i) from April 30, 2022 to June 5, 2022, for the base date of March 31, 2022;

(ii) from July 31, 2022 to September 5, 2022, for the base date of June 30, 2022; and

(iii) from October 31, 2022 to December 5, 2022, for the base date of September 30, 2022.

To verify the mandatory declaration, in the case of assets in a currency other than the US dollar, it is necessary to convert them to their equivalent value in dollars on the base date.

According to applicable legislation, failure to present the declaration, or the presentation of false, incomplete, incorrect information or outside the established deadlines may result in fines ranging from R$ 2,500.00 (two thousand and five hundred reais) to R$ 250,000.00 (two hundred and fifty thousand reais), which may also be increased by 50% (fifty percent) in some cases.

Our Corporate team | M&A is available for further clarification and support in fulfilling these obligations.

CORPORATE | M&A

MANA ADVOGADOS

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